What is the actual cost of the National Living Wage? Last week we saw the Chancellor of Exchequer George Osborne, announce his Summer Budget, with the main focus being the National Living Wage discussing the incentives for businesses that pay the Living Wage. Osborne confirmed in the Budget that the new National Living Wage will be made compulsory to all workers aged 25 year and over, starting next April at £7.20 per hour and set to reach £9 per hour by 2020. Rohan Silva writer at the Observer … [Read more...]
Summer Finance Bill Published!
After the Summer Budget last week the Government have announced the 2015 Summer Finance Bill, to introduce the Tax changes proposed this year. With the Conservatives ongoing campaign to be a ‘Working Person’s Party’, the key focus has been to ensure that people keep more of their hard earned wages. As documented in the Budget, the Summer Finance Bill documents the changes to Tax that will take place: Income Tax and VAT will not increase, throughout the current Parliament Personal Tax … [Read more...]
It has been reported that candidate registrations in the City Job Market are up by 25%
It has been reported that candidate registrations in the City Job Market are up by 25% With a new Government in place, we have seen candidates continued confidence within the job market increase, with the number of registered candidates within the City of London, rise by 25% in the last year. Tracked by Robert Walters City Job Index on a monthly basis, we have seen an increase of 1% in the amount of job opportunities within the City of London rising to 9,255, based on the same time last year … [Read more...]
Government welcomes judgment by Supreme Court, for a launch date for Tax-Free Childcare
Government welcomes judgment by Supreme Court, for a launch date for ’Tax-Free Childcare’ With the Governments continued plans to support working families within the UK, last week’s focus was on the delivery of Tax-Free Childcare. Wednesday 1st July saw the Government welcome a Supreme Court’s judgment, confirming that the proposal for Tax-Free Childcare is rightful, with plans now to launch in early 2017, a year later than initially suspected. In the meantime the current Employer-Supported … [Read more...]
Director of Payroll Company Work Legal-E disqualified as Director
Director of Payroll Company Work Legal-E disqualified as Director After an Insolvency Service Investigation, David Charles Allen, of payroll company ‘Work Legal-E’ , has been disqualified from acting as director, after under-declaring VAT to the value of £5million. The sole director of Work legal-E knowingly instructed the submission of a VAT return, with the companies VAT liability at £8,417,468, but an amount of £3,417,648 was paid leaving a shortfall of £5million, though bank statements … [Read more...]
Are you ready for the Summer Budget?
Are you ready for the Summer Budget? Make sure you follow the Budget with ePayMe! https://www.epayme.co.uk/blog/ … [Read more...]
LATEST UPDATE – SUMMER BUDGET
LATEST UPDATE - SUMMER BUDGET "Business investment was 31.9% higher than 2010 and revised up again this year. OBR forecast: more than two million more people in work since start of last Parliament. One million more expected in next five years. George Osborne says living standards are rising "strongly", but "Britain still spends too much, borrows too much." - BBC.CO.UK … [Read more...]
LATEST UPDATE – SUMMER BUDGET – NON-DOM
LATEST UPDATE - SUMMER BUDGET - NON-DOM "An extra £750m will be set aside for HMRC to raise £2bn of extra tax combating tax evaders. The onto non-domicile tax rules, in place since 1914. He says they have an "important place" and won't be dumped outright, but "it is not fair for people to be born in the UK" to non-dom parents and then claim to be non-doms themselves. Putting homes in offshore companies is not fair either, nor is permanent use of the status, he says. From 2017, non-doms who've … [Read more...]
LATEST UPDATE – SUMMER BUDGET – INHERITANCE TAX
LATEST UPDATE - SUMMER BUDGET - INHERITANCE TAX "The new allowance will be on top of the existing £325,000 threshold which will be fixed until the end of 2020-21, Mr Osborne says. Both allowances can be transferred to your spouse or partner. The government will "taper the relief" away for estates worth more than £2 million. He says the cut in inheritance tax will be paid for by changes to the pensions tax relief to the highest earners. "No more inheritance tax on family homes. Aspiration … [Read more...]
LATEST UPDATE – SUMMER BUDGET – DIVIDEND TAX SYSTEM
LATEST UPDATE - SUMMER BUDGET - DIVIDEND TAX SYSTEM "Mr Osborne says the dividend tax system is "complex and archaic". He's replacing dividend tax credit with a tax-free allowance of £5,000 of dividend income for all taxpayers. The rates of dividend tax will be set at 7.5%, 32.5% and 38.1%." - BBC.CO.UK … [Read more...]